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2015-03-31

SAGA TANKERS ASA: MAINTAINS LISTING ON OSLO AXESS

Reference is made to a stock exchange notice dated 16 October 2014 regarding a
resolution passed by Oslo Børs concerning Saga Tankers ASA (the "Company") on
15 October 2014. In the resolution passed by Oslo Børs on 15 October 2014,
the Company was granted a three month period to satisfy certain requirements
for listing on Oslo Axess.
The Company has since then worked towards maintaining its listing on Oslo
Axess, inter alia by offering settlement in shares in the Company to the
shareholders of Strata Marine&Offshore AS in connection with the latter's
merger with Saga Invest Holding AS (a wholly owned subsidiary of the Company)
(the "Merger") and through election of two new independent directors at the
extraordinary general meeting held on 27 March 2015.

Following completion of the Merger, the Company will have an approximate
spread of share ownership of 23% and approximately 94 shareholders which hold
shares for more than NOK 10,000. Following the extraordinary general meeting
on 27 March 2015, the Company satisfies the requirement to have at least two
directors which are independent of the Company's executive management,
material business contracts and largest shareholders.

Based on the above, the Company has been informed that Oslo Børs will not
pursue a delisting process of the Company, provided that the Merger is
completed. The Company is not familiar with any conditions that may hinder
the completion of the Merger as planned.

For further information, please contact:

CEO Espen Lundaas
+47 92 43 14 17

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Saga Tankers ASA via Globenewswire

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